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512-514 Lake Ave 26 Unit Apartment Building $1,175,000 ($45,192/Unit) Rochester, NY 14613
INVESTMENT HIGHLIGHTS
- Location is close to many retailers, employers, and restaurants
- Recently upgraded roofs, boiler and hot water tank
- Tenants pay for cooking gas and electric. Property pays for heat, water and sewer
- Over $90,000 in recent capital improvements
- Seller is looking for offers!
- Unit SF are approximate
EXECUTIVE SUMMARY
26 apartment units one mile from downtown Rochester, NY with views above the Genesee River. Tenants can walk to retailers and local and national restaurants. Over $90,000 in recent capital improvements including roofs, an updated boiler and a new hot water tank. Some rents are under market and the current owner is not having problems renting turnovers at market rents. Price reduced on 7/4/25 to $51,730/unit.
PROPERTY FACTS
| Price | $1,175,000 | Building Class | C |
| Price Per Unit | $45,192 | Lot Size | 0.59 AC |
| Sale Type | Investment | Building Size | 15,360 SF |
| No. Units | 26 | Average Occupancy | 81% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1900 |
| Apartment Style | Low-Rise | Parking Ratio | 0.52/1,000 SF |
| Zoning | R-3 - High Density Residential | ||
| Price | $1,175,000 |
| Price Per Unit | $45,192 |
| Sale Type | Investment |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 15,360 SF |
| Average Occupancy | 81% |
| No. Stories | 4 |
| Year Built | 1900 |
| Parking Ratio | 0.52/1,000 SF |
| Zoning | R-3 - High Density Residential |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- High Speed Internet Access
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Video Patrol
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 450 |
| 1+1 | 20 | - | 550 |
| 2+1 | 5 | - | 650 |
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $729,000 | |
| Land Assessment | $71,000 | Total Assessment | $800,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$71,000
Improvements Assessment
$729,000
Total Assessment
$800,000
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512-514 Lake Ave
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